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Course 1 - Overview of the Mutual Fund Industry
- Introduction to Mutual Funds
- The History of Mutual Funds
- The Structure of the Mutual Fund Industry
- Issues Facing the Mutual Fund Industry
Course 2 - Mutual Fund Operations
- The Investment Management Back Office
- The Investment Management Front Office
- Mutual Fund Support Functions
- Transfer Agent Functions - Shareholder Record Keeping
- Transfer Agent - Customer Service and Other Service Providers
Course 3 - Mutual Fund Distribution & Marketing
- Fund Distribution: the Broker Channels
- Fund Distribution: the Direct, Bank, & Institutional Channels
- Understanding Mutual Fund Marketing and Distribution Issues
- Open-End Funds outside the U.S.
Course 1 - Overview of the Mutual Fund Industry
Course 1 lays the foundation of how mutual funds began and have evolved since the early 1900s.
The four-module course covers the laws that were created to protect the investor, the organizations
that make up the mutual fund industry and the regulatory bodies that monitor the industry today. It
also discusses the issues and challenges that face the mutual fund industry as we move forward in
the 21st century.
Modules included in this course are:
Introduction to Mutual Funds
This module will provide you with the "big picture" of what mutual funds are, the various types available, some of the regulations surrounding them, and the type of investors that they benefit.
Topics covered in this module:
- Mutual Funds: The Basics
- Reporting Requirements
- The Structure and Management of Mutual Funds
- The Popularity of Mutual Funds
The History of Mutual Funds
The history of mutual funds resides largely within the twentieth century and runs though several
distinct periods. This module examines each of these distinct periods, particularly focusing on
events and legislation that have shaped the mutual fund industry.
Topics covered in this module:
- 1900 - Early 1920s: The Beginning
- 1920s: The Roaring Twenties and The Crash
- 1930s: The Great Depression and Regulation
- 1940s - 1970s: The Slow-but-Steady Growth Years
- 1980s - 1990s: Explosive Growth
- 2000 - Present: Changing Times
The Structure of the Mutual Fund Industry
The Structure of the Mutual Fund Industry module will examine various types of service providers that serve as a significant portion of the mutual fund industry's structure. The module explores the funds themselves and briefly identifies the functions of service providers within the industry, how they relate to the fund and, when available, their participation in the industry in terms of revenue
Topics covered:
- Fund Requirements
- Naming Requirements
- Fund Directors
- Management Companies
- Third-Party Service Providers
- Brokers and Other Intermediaries
- Industry Associations
- Regulators
Issues Facing the Mutual Fund Industry
The Issues Facing the Mutual Fund Industry module will examine a handful of key issues and challenges that the mutual fund industry faces as it moves into the twenty-first century.
Topics covered in this module:
- The Mutual Fund Industry within the Life Cycle
- The Fee Debate
- Active vs. Passive Management
- The State of the Market
Course 2 - Mutual Fund Operations
Course 2 focuses on the daily operations of a mutual fund from investment management to
calculating the NAV. The five-module course reveals the vast number of tasks and people it
takes to make a mutual fund run smoothly, while at the same time appearing to be seamless
to the investor.
Modules included in this course are:
The Investment Management Back Office
The Investment Management Back Office module will describe to you the different functions that occur in the investment management back office.
Topics covered in this module:
- Back Office Players
- The Settlement Process
- Portfolio Compliance and Risk Monitoring
- The Cost of the Back Office
The Investment Management Front Office
The Investment Management Front Office module will describe the functions and responsibilities of the investment management front office and what it does for a mutual fund.
Topics covered in this module:
- Investment Management Cycle
- Investment Analysis and Portfolio Management
- Trade Order Management
- The Cost of the Front Office
Mutual Fund Support Functions
The Mutual Fund Support Functions module will discuss investment management functions that are specific to mutual funds. These functions include fund accounting, auditing, legal support, and other compliance and reporting functions often termed "fund administration."
Topics covered in this module:
- Fund Accounting
- Fund Audit
- Fund Legal Support
- Other Fund Administration Functions
Transfer Agent Functions - Shareholder Record Keeping
This module will familiarize you with the various tasks and technologies associated with the shareholder record keeping function of transfer agents.
Topics covered in this module:
- Transfer Agent Definition and Cost
- Back Office Functions
- Daily Processing Cycle
- Back Office Technology
Transfer Agent - Customer Service and Other Service Providers
This module will introduce the parts and functions of the customer service component of the transfer agent. It will also discuss some third-party companies who support transfer agents as niche service providers.
Topics covered in this module:
- How Mutual Fund Investors Receive Service
- The Customer Contact Center
- Other Service Providers
Course 3 - Mutual Fund Distribution & Marketing
Course 3 explores mutual fund distribution and how it has evolved since the adoption of 12b-1 in 1980. The four-module course also focuses on regulations guiding marketing and advertising and delves into what expansion opportunity open-end mutual funds outside the U.S. may present to mutual fund managers.
Modules included in this course are:
Fund Distribution: The Broker Channels
The Fund Distribution: the Broker Channels module will introduce the concept of mutual fund distribution and focus specifically on topics related to the distribution of mutual funds through broker channels.
The following topics will be covered in this module:
- Mutual Fund Distribution
- Load Fund Distribution via Brokers
- Load Schemes and Broker Compensation
- Connecting Brokers and Funds: NSCC's Fund/SERV
- Issues Related to Fund Distribution by Brokers
Fund Distribution: the Direct, Bank, & Institutional Channels
The Fund Distribution: The Direct, Bank, and Institutional Channels module will introduce the ways that mutual funds are sold directly to the investor, sold through banks and sold through other intermediary channels.
Topics covered in this module:
- The Direct Channel
- The Bank Channel
- The Institutional Channel
- The Distribution Big Picture
Understanding Mutual Fund Marketing and Distribution Issues
The Understanding Mutual Fund Marketing and Distribution Issues module will focus on mutual fund advertising and the role that retirement investing has played in the expansion of mutual fund marketing budgets.
Topics covered in this module:
- Mutual Fund Advertising
- The Marketing Niche: Retirement Plans
- The Role and Impact of Advertising and Marketing Activities
Open-End Funds outside the U.S.
The Open-End Funds outside the U.S. module, will discuss the future of distributing mutual funds globally and the opportunities and challenges that await U.S. fund companies.
Topics covered in this module:
- Areas of Opportunity
- Open-End Funds Outside the U.S.
- Opportunities and Challenges for U.S. Fund Companies
- The Strategy Question - Organic Growth, Alliance or Acquisition?
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